Europe’s inflation rate took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real easing on the cost of food and other necessities
Europe’s inflation rate took a positive turn with a significant drop to 6.1%, but consumers are yet to see real relief in what they pay for food and other necessities.
The annual figure in May eased from 7% in April for the 20 countries that use the euro currency, the European Union’s statistical agency Eurostat said Thursday.
It was a welcome sign that the explosion in price increases – which peaked in record double digits last October – is heading in the right direction.
But economists warned that it will be many months before disgruntled consumers see more normal levels of inflation reflected on price tags in shops.
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